Redwood City, CA, November 14, 2013 --(PR.com
, Inc. (GenapSys), a provider of Next Generation Sequencing (NGS) systems, today announced it has raised $37M to commercialize the GENIUS™ 110 system (Gene Electronic Nano-Integrated Ultra-Sensitive), a fully integrated DNA Sequencing system for the rapidly evolving NGS market.
The Series B financing includes existing investors Decheng Capital and IPV Capital, with participation from new investors including Yuri Milner, Stanford StartX Fund, as well as other private and institutional investors.
Dr. Hesaam Esfandyarpour, GenapSys founder and ceo, made the following statement: “We were extremely pleased with the high investor interest in our Series B round, and we are delighted to include such high caliber investors as shareholders. With this financing, we now have all the pieces in place to deliver on the commercial promise of the GENIUS system. In my view, each decade has a defining technology that changes the way the world works – back in the 1980s it was the transistor; in the 1990s it was the personal computer; in the 2000s it was the internet; I believe now is the decade of genomics. What we are developing at GenapSys will enable the genomic revolution not only for healthcare, but for a wide range of applications. Genomics will improve the quality of human life and elevate our understanding and knowledge about the world in which we live.”
Dr. Esfandyarpour closed by saying: “The greatest motivator is the desire to make a positive impact on the world – that’s why we work so hard at what we do. After working on this for near 10 years, I think we are at a unique point in time, and we have an incredible opportunity here at GenapSys to realize that impact in an extremely meaningful way.”
About GenapSys Inc.
GenapSys, headquartered in Redwood City, CA, is a venture backed privately-held company that has created, developed and is producing a market disrupting Genomic Testing system. GenapSys’s advisory board includes among others, Ron Davis, Director of Stanford Genome Technology Center, George Church, Professor of Genetics at Harvard Medical School, Eric Topol, Director of the Scripps Translational Science Institute, and Mike Snyder, Director of Stanford Center for Genomics and Personalized Medicine. The company’s first product, the GENIUS™ 110 System, will enable customers to replace an expensive and time-consuming sample preparation and sequencing bottleneck with a streamlined workflow for Next Generation Sequencing. Its patented GENIUS system integrates advanced fluidics and analytical capabilities to produce sample-to-answer performance for DNA and RNA sequencing, while dramatically reducing capital and operating expenses. For more information, visit www.GenapSys.com